The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rise in building and mining activity is likely to spur innovation in heavy construction machinery rental production, propelling the market during the forecast period.

The global heavy construction machinery rental market is expected to grow from $49.79 billion in 2022 to $53.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The global heavy construction machinery rental market size is expected to reach $70.54 billion in 2027 at a CAGR of 7.1%.

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Global Heavy Construction Machinery Rental Market Segments Include:

• By Equipment: Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Other Equipment
• By Application: Excavation And Demolition, Heavy Lifting, Tunneling, Material Handling, Recycling And Waste Management
• By End User: Infrastructure, Construction, Mining, Oil And Gas, Manufacturing, Other End Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global heavy construction machinery rental market in 2021.

Major Market Players in the heavy construction machinery rental market include Ashtead Group Plc., United Rentals Inc., H&E Equipment Services Inc., Kanamoto Co. Ltd., Boels Rental, Haulotte Group, Herc Rentals Inc., Loxam S.A.S.

Artificial intelligence (AI) has emerged as a prominent trend gaining traction in the heavy construction machinery leasing business. The combination of datasets and computer science that enables issue resolution is referred to as artificial intelligence. By adding sensors to construction equipment, artificial intelligence is employed to track performance data. To maintain their market position, major players in the heavy construction machinery rental sector are implementing new technologies such as artificial intelligence (AI) and machine learning. For example, Caption, an Israel-based start-up, launched ‘MineCept,’ an AI-based system for heavy equipment, in August 2022. This system is mounted on heavy construction equipment and gives site managers, operators, and safety managers with real-time information. This artificial intelligence-based technology aids in the reduction of accidents and the improvement of the safety and productivity of heavy construction equipment in industrial facilities, mines, and construction sites.

The Heavy Construction Machinery Rental Global Market Report 2023  provides a heavy construction machinery rental market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The heavy construction machinery rental market forecast analyzes heavy construction machinery rental market size, heavy construction machinery rental market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Heavy construction machinery rental is the service of renting equipment/types of machinery suitable for major construction projects. This big machinery serves a specialised purpose that is required for a variety of building jobs. Renting heavy construction equipment saves contractors money on new equipment, labour, maintenance, and operational costs

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